When it was first announced that Proton was considering bailing out Augusta, I thought it was a big joke. Even if it was made in all seriousness, I thought that it would never be able to carry it through the board of directors because by then Khazanah Nasional had already been revamped with some whiz kids in its top management. I was quite sure their representatives on Proton Board would veto such a folly.

Now it has come to past that Proton had invested and lost RM314 million. Is the government prepared to consider this purely as a misadventure? To lose that much money in a matter of less than two years is a great feat for any top management. Was this purely a decision that went bad because of economic or environmental changes or was it just a stupid decision in the first place?

In all probability it is the latter. RM300 million would go a long way to alleviate the suffering of the poor.

I would suggest the government investigate how this decision was made with a view to preventing further losses that could lead to loss of confidence by the investing public in our government-linked companies (GLCs). If any wrongdoing or fraudulent arrangements can be found, the culprits should be severely dealt with.